I'd guess that what has happened is that a number of entities - apart from the EMC founders - in the Top 20 have got a decent chunk at (or around) 85c but kept some powder dry as the antipation/frustration grows whilst the contracts are finalised and in the interim they are using the remaining powder to accumulate.
There were quite a few of us who could have followed this strategy on a micro scale, but as a number of key contributors have mentioned, why risk losing out on the upswing for the sake of trying to time something that just couldn't have been predicted.
This is the first business of its type anywhere, let alone one that is listed on the ASX.
Bring on the results of the South African desal tenders!
